Western Gas Equity Partners, LPNYSE
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  • May 13, 2015, 3:49 PM
    • Energy MLPs are trading with mixed results, which is not in line with an analyst's expectation that several names in the space may be outperformers today after Williams Cos. (WMB +6.2%) agreed to buy Williams Partners (WPZ +22.7%).
    • In an earlier note to investors, Credit Suisse named Plains GP Holdings (PAGP +1%), Targa Resources (TRGP +1.1%), NuStar GP Holdings (NSH -0.1%) and Western Gas Equity (WGP -0.7%) as MLPs that could climb on the news.
    • Meanwhile, Wells Fargo says the deal is positive, since it reduces the WMB's cost of capital, will immediately increase its profits, and enhances its dividend growth outlook.
    • Among major energy MLPs: EPD -1.5%, ETP +0.9%, PAA +0.2%, EEP -0.2%, MWE +2.2%, MMP -0.3%.
    | May 13, 2015, 3:49 PM | 17 Comments
  • Oct. 28, 2014, 5:27 PM
    • Western Gas Partners (WES, WGP) agrees to acquire Nuevo Midstream, a Delaware Basin gas gatherer and processor, for $1.5B.
    • Nuevo's assets include a 300M cf/day cryogenic processing complex with an additional 400M cf/day of processing capacity scheduled to be in service in 2015, and 275 miles of gathering pipeline; more than 70% of Nuevo's gross margin is fee-based, and Western expects that following the acquisition more than 95% of its consolidated gross margin will be either fee-based or covered under its fixed-price agreements with Anadarko.
    • Western expects the Nuevo acquisition to be accretive to its distributable cash flow per unit in 2015.
    • Earlier: Q3 earnings
    | Oct. 28, 2014, 5:27 PM | 1 Comment